Real estate investment firm UC Asset has purchased the historic Rufus M. Rose House on Peachtree Street with plans to fully restore the 120-year-old mansion.
The Atlanta-based company closed the acquisition of the home, located across the street from Emory University Hospital Midtown, on July 7. UC Asset said it plans to fully refurbish the home and work with “city leaders and influencers” to find a suitable use for one of the last Peachtree mansions.
“We are working very hard to put together a plan that will not only be loyal to history and beneficial to the current community, but will also provide good investment return to our shareholders,” said Larry Wu, founder of UC Asset.
UC Asset’s plans were sanctioned by Atlanta Preservation Center, which is collaborating with the company on the upcoming restoration.
“UCASU has committed to preserve this house, and this represents the continued renaissance of Downtown Atlanta through visionary partnerships. The Atlanta Preservation Center is very excited to participate with UCASU in seeing this part of our city’s story both return and welcome future generations to Atlanta,” says David Yoakley Mitchell, the center’s executive director. “Rufus Rose House was our headquarters for years. That adds yet another reason for my personal commitment to this project.”
The Rufus Rose House is one of the oldest buildings in metro Atlanta and is listed on the National Register of Historic Places and designated as a Landmark Building Exterior by the City of Atlanta. The home has been vacant and crumbling since the Atlanta Preservation Center moved out in 2001.
Over the past 20 years, the home has exchanged hands numerous times with various plans to transform it into offices, a restaurant, and studio and entrepreneur space. Designed by Atlanta architect E.C. Seiz, the Victorian Queen Anne-style home was built in 1901 for the wealthy founder of the R.M. Rose Distillery.
Many Atlantans will remember the mansion as home to James H. Elliot’s antique shop and “Atlanta Museum,” which featured an eclectic array of oddities including furniture from Gone With the Wind author Margaret Mitchell’s home, Eli Whitney’s original cotton gin model, and items owned by George Washington, Thomas Jefferson and Adolf Hitler.